- Synthetix added 7 new perpetual futures markets for XRP, DOT, FLOKI, INJ, PEPE, SUI and BLUR.
- The protocol will also support TRX, with the new Perps markets available on the Perps trading frontends Kwenta, Polynomial, Decentrex and dHEDGE.
- Synthetix now provides SYN liquidity for 40 perpetual futures markets.
Synthetix, a decentralized derivatives trading platform based on Optimism and Ethereum, has added 7 new perpetual futures markets, including some tokens that are currently attracting a lot of interest.
According to the Derivatives Protocol blog announcement on Wednesday, May 24th, the new markets include XRP(XRP), Polkadot (DOT), Floki Inu (FLOKI), Injective (INJ), Pepe (PEPE), Sui (SUI ) and Blur.
The platform noted that the listing of the seven new perpetual futures markets brings the total number of perpetual futures markets on Sythentix to 40.
Fantastic news! Synthetix Perps now supports $PEPE, $SUI, $BLUR, $XRP, $DOT, $FLOKI and $INJ. There are 7 new markets and $300,000 OP trade rewards available this week.
Synthetix Perps now has a total of 40 offenders. 🥱 🥱 🥱 🥱
Learn more 👇https://t.co/k3d9XEsv3X pic.twitter.com/sBQpQ1xAz1
— Synthetix ⚔️ (@synthetix_io) May 23, 2023
New criminal markets are active on Optimism
Support for the new markets follows the approval of SIP 2014 and SIP 2015. According to the blog post, an eighth perps market for Tron (TRX) has also been approved. However, Synthetix is awaiting Oracle support for the token before beginning trading.
The new offender markets are now using the Optimism protocol for leveraged trading.
SNX token holders can access the Perpetual markets through various SNX-integrated derivatives trading protocols. User-facing platforms on Synthetix that support offender trafficking include Kwenta, Polynomial, Decentrex, and dHEDGE
Perpetual futures contracts are a type of derivatives that allow traders to bet on future prices of an underlying digital asset without having to hold the actual asset. The markets have no expiry date and are traded 24/7, often with high leverage.
The price of Sythentix’s native token SNX rose 3.5% on Wednesday to trade at a high of $2.60. SNX is up 17% over the past week as of this writing, although its value is still more than 90% below its all-time high of over $28 set in February 2021.
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